JLL Capital Markets closed the sale of the 206,926-square-foot Marketplace at Highland Village located in Highland Village, Texas
News release
29 January 2024
DFW shopping center trades to new owner
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DALLAS, Jan. 29, 2024 – JLL Capital Markets announced today that it has closed the sale of Marketplace at Highland Village, a 206,926-square-foot shopping center located within the Dallas-Fort Worth MSA in Highland Village, Texas.
JLL represented the seller in this transaction.
Constructed in 2006, the 93 percent-leased center boasts a dedicated base of nationally recognized tenants with an average tenant tenure of 13.6 years and a WALT of 3.5 years with tenants including T.J. Maxx/Home Goods, LA Fitness, DSW, Petco, Sola Salon Studio and more. The center draws 4.3 million visits annually.
Located at 3060 Justin Rd (FM 407), Marketplace at Highland Village sits at the intersection of Justin Road and Village Parkway in the sought-after and highly affluent suburb of Highland Village. Within a five-mile radius of the center is a population of approximately 178,365, boasting an average household income of $198,546 within a one-mile radius. The center also benefits from its proximity to Highland Village’s neighboring suburbs of Flower Mound and Lewisville, which offer robust customer bases with high disposable incomes. Top demand drivers for the center also include DFW International Airport, Grapevine Lake, Lewisville Lake, Las Colinas Urban Center and Gaylord Texan Hotel, which are all within proximity of the center.
The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Lazarus.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.